A field effect transistor (FET) and a method for manufacturing the same, in which the FET may include an isolation film formed on a semiconductor substrate to define an active region, and a gate electrode formed on a given portion of the semiconductor substrate. A channel layer may be formed on a portion of the gate electrode, with source and drain regions formed on either side of the channel layer so that boundaries between the channel layer and the source and drain regions of the FET may be perpendicular to a surface of the semiconductor substrate.